Introduction: There are uncertainties in the global economic environment, but the domestic lighting market still maintains steady growth and presents some new growth points.
Industrial added value and corporate profit growth
In the first quarter of 2024, the industrial added value of the lighting industry was significantly higher than the same period in history, increasing by about 10 percentage points. At the same time, lighting fixture manufacturing enterprises above designated size not only increased in number, but their total profits also showed an increase of nearly 10%. This data shows that the lighting industry has achieved remarkable results in technological progress and market development, and the operating efficiency and profitability of enterprises have been improved.
Double growth in output and exports
In terms of output, the output of electric light sources and lamps has shown an upward trend, with year-on-year growth of 14% and 13% respectively. This growth not only reflects the strong demand in the domestic market, but also shows the competitiveness of Chinese lighting products in the international market. In particular, the export delivery value increased. In the first quarter, the export delivery value of the lighting equipment manufacturing industry increased by 5% year-on-year, indicating that Chinese lighting products continue to expand their overseas market share.
Positive and negative impacts on related industries
Although the impact of the overall economic environment on the lighting industry is complex and changeable, the performance of other related industries has also brought different impacts to the lighting market. For example, the improvement in profits of light industry companies provides a positive signal to the market, while the decline in the building materials and home furnishing market reminds lighting companies to pay attention to changes in market demand and adjustments in consumer preferences.
New growth points in the future
Facing the future, new growth points in the lighting market may focus on several key areas. First, technological innovation will continue to be the core driving force for industry development. Intelligent lighting systems, as well as lighting solutions integrated with IoT technology, will be the main directions pursued. Secondly, as the world pays more attention to environmental protection and energy efficiency, energy-saving and environmentally friendly lighting products will enjoy greater market demand. Finally, with the advancement of international cooperation policies such as the Belt and Road Initiative, overseas markets will bring new growth opportunities to Chinese companies.
